Edelweiss is bullish on Britannia Industries has recommended buy rating on the stock with a target price of Rs 3529 in its research report dated February 14, 2017.
Edelweiss' research report on Britannia Industries
Though input price inflation (up 10% YoY) continued to pinch gross margin (down 229bps YoY), it was mitigated to some extent via price hikes (YTD 5.5%). Britannia will benefit from pickup in biscuit market, rise in MS, entry in new categories and demand recovery led by good monsoon and government initiatives. Maintain ‘BUY’.
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